At a meeting in Vienna on 14 October 2005, the 35-member Board of Governors decided the monetary award accompanying the Nobel Peace Prize will be used for funding the needs of developing countries in the peaceful application of nuclear energy and, in this connection, both human health and food production were specifically mentioned. The Board authorized Dr Md. ElBaradei to establish a special fund for the IAEA's share of the 1.07 million Euro award that accompanies the Nobel Peace Prize.

The Norwegian Nobel Committee awarded the 2005 Nobel Peace Prize on 7 October 2005 to the IAEA and the Director General ElBaradei in equal shares. The Norwegian Nobel Committee had recognized the challenges ahead for the IAEA. These included the fight against nuclear terrorism and significant expansion of the use of nuclear energy for peaceful purposes. The award ceremonies for the Nobel Peace Prize will take place on 10 December in Oslo, Norway.

IAEA Director General ElBaradei said, "I compare ourselves to an orchestra. I am simply the conductor of a qualified, well-tuned and dedicated orchestra. We need to make every possible effort for the highest level of security. We owe it to humanity. The award also shows the will of humanity to address challenges and to seize the opportunity for a better life for future generations."

IAEA Board of Governors at its14 Oct. meeting welcomed the award of the Nobel Peace Prize to the IAEA and Director General ElBaradei and made such decision for a more enhanced promotion of the peaceful uses of nuclear technologies to the human beings. (Credit: IAEA staff report)