The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact.
The same council extended a health emergency decree for an extra month until September 10 amid a rise in coronavirus cases.
The decision was made by the government council to allow for the restoration of restrictive measures to contain the virus outbreak.
Eight cities have been locked with a ban on entry and exit as the government adopted another law allowing law enforcement agents to extract fines on the spot from breachers of precautionary measures such as facemasks wearing and respect of social distancing.
Total coronavirus cases jumped on Friday to 30,662, including 461 deaths and 21,548 recoveries.