No­bel prize cash raised to $1.1 mil­lion

Arab News - - News Internatio­nal -

The cash en­ve­lope that ac­com­pa­nies each No­bel prize will be in­creased this year from nine to 10 mil­lion kro­nor ($1.1 mil­lion), the No­bel Foun­da­tion said.

“The work done in re­cent years to strengthen the No­bel Foun­da­tion’s fi­nan­cial stand­ing has made it pos­si­ble to in­crease the prize sum,” the foun­da­tion said in a state­ment.

This year’s prizes in the fields of medicine, physics, chem­istry, lit­er­a­ture, peace and eco­nom­ics will be an­nounced dur­ing the week of Oct. 5. The prize sum was re­duced from 10 to 8 mil­lion Swedish kro­nor in 2011, when the foun­da­tion launched a pro­gram to im­prove its fi­nances.

Since the be­gin­ning of 2012, its in­vest­ment cap­i­tal has risen from just un­der 3 bil­lion kro­nor to 4.6 bil­lion, while the re­turn has been close to 9 per­cent per year.

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