Combined the projects are supposed to help revive and promote inter-university exchange between Japan's designated universities and key institutions overseas, most likely in the US. A key aspect is supposed to help fund 300,000 Japanese students to go abroad while bringing a matching 300,000 foreign students to Japan. While well over 140,000 foreign students come to Japan, Japan's number of students going abroad is well below 70,000 and continues to decline.
The government's focus is on 13 elite universities (and remember the original plan had been to fund 30 such institutions) that had previously qualified for funding, so this appears to be more of a re-branding than anything.
Read more at the links:
Launching New Project for Promoting Universities’ Activity in Implementing Internationalization as well as exchange with Asia and the United Statesexcerpt:
○ The New Growth Stragety (Cabinet Decision) has decided to send 300,000 Japanese students and workers abroad as well as accept 300,000 talented studensts from overseas into Japan for studying and training.
○ It is necessary to actively support sending Japanese studentsabroad as well as accepting international students.