The European Union has decided to put all of the money it won for the Nobel Peace Prize towards projects that help children in war zones.
The EU includes 27 countries in Europe that are closely tied in business and politics.
The EU was awarded the 2012 Nobel Peace Prize for its efforts in keeping the peace in Europe for more than 65 years.
The Peace Prize is a very prestigious honour; the winner receives a medal and eight million Swedish kronor—about $1.18 million.
That money will be put towards projects that help children who live in areas of the world that are experiencing conflict or war.
“Children are the future of any society and at the same time the most vulnerable,” the European Commission said in a statement about the prize money.
What those projects will be, and how the money will be divided, will be decided in the next few weeks.