This meditation is known as a 'metta' meditation. Loving-kindness, or metta,  is unconditional, inclusive love, love with wisdom. It has no conditions; it does not depend on whether one “deserves” it or not; it is not restricted to friends and family; it extends out from personal categories to include all living beings. It's an incredibly powerful meditation when practiced regularly, to release negative self-doubt, create love for oneself and compassion for those of us around us, especially the people we find challenging. (After researching how old this practice is, there is no definite answer, but most say that it goes back to pre-Buddha times, and he was born in 563 BCE.)

LovingKindness Meditation