EU donates its prize of around £750,000
The Nobel Peace Prize consists of an amount of SEK 8 million (approximately €930,000), a medal and a diploma. The medal and the diploma will be kept by the European Union institutions on behalf of the European Union.
The European Commission has formally accepted the prize money on behalf of the European Union. Following agreement between the heads of the EU institutions, the European Commission will allocate the money for "EU Nobel Prize Children's Projects" for the benefit of children in war and conflict zones.
Commenting on the EU’s decision to donate its Nobel Peace Prize award of €930,000 to children in war and conflict zones, LibDem European justice & human rights spokeswoman Sarah Ludford MEP said:
“The Nobel Peace Prize was awarded to the EU in recognition of its efforts to promote peace, reconciliation, democracy and mutual understanding not only in Europe, but throughout the world. Therefore it's absolutely fitting that the prize money should go to assisting children affected by conflict.”
“I think that the citizens of Europe would agree that this is the best way for the money to be spent, making a significant difference to the lives of young people struggling to cope with the devastating effects of war and violent conflict."
November 20, 2012