The European Commission has today formally accepted the Nobel Peace prize money on behalf of the European Union 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.’
Following agreement between President Barroso and Presidents Van Rompuy and Schulz, the Commission intends to allocate the Nobel Peace Prize money to the "EU Nobel Prize Children's Projects" for the benefit of children in war and conflict zones. Since children are the future of any society and at the same time among the most vulnerable, the peace dividend the European Union is receiving should be ‘invested’ in those children who are the victims of violent conflict.