The Nobel Foundation increased the Nobel Prize money from NOK 9 to 10.5 million, based on the Foundation’s finances’ improvement.
“The work that has been done in recent years to strengthen the Nobel Foundation’s financial situation has made it possible to increase the amount of money,” the Foundation wrote in a press release.
The amount of money that comes with each Nobel Prize increases by USD 1.1 million, corresponding to about NOK 1.5 million at today’s exchange rate.
In 2008, the amount was reduced from NOK 10 million to NOK 8 million as a result of the Foundation’s savings program, aimed at improving its financial situation.
On Tuesday, it was announced the Nobel Peace Prize will not be awarded in Oslo city hall this year.
Instead, the award ceremony will be a scaled-down event in the University’s auditorium.
© NTB Scanpix / #Norway Today
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