The European Commission has formally accepted the Nobel Peace Prize money on behalf of the European Union on November 14 and indicated that it intends to allocate the prize money to children affected by war and conflicts across the world.
President Barroso said: “The Nobel Peace Prize stands for reconciliation throughout the world. The prize money should benefit the first hope for the future, but also the first victims of present and past conflicts: children.”
The approximate €930,000 will be allocated to children most in need. In the coming weeks, the Commission will decide on the details of the project, including the precise terms of reference, beneficiaries' selection process and legal and budgetary aspects, European Commission informs.
The 2012 Nobel Peace Prize was awarded to the European Union as announced on 12 October. It will be formally jointly received on December 10 at the Nobel Prize Award Ceremony in Oslo by Commission President José Manuel Barroso, the European Council President Herman Van Rompuy and the European Parliament President Martin Schulz.
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