I’m new to this too, but the slide deck they have posted seems a good starting place.
The NGI is an initiative of the European Commission to fund “researchers, developers, startups, and SMEs” who are aligned with the “aim to shape the development and evolution of the Internet” according to the principles of:
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protecting personal data
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ensuring privacy and security
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combating disinformation
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guaranteeing access a s freedom of choice
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respecting fundamental rights
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enforcing ethics and sustainability by design.
I’m a little less clear on what the 16 projects are (which are listed on slides 6 and 7), but I gather they might be specific categories or objectives, defined by the NGI, within which any of their funding falls, e.g., if you’re doing research on democratizing search capabilities, that research would serve the NGI’s “Search” project and would qualify for funding.
I’m making a lot of assumptions but I’m reasonably confident in them.