The Nobel Peace Prize was first awarded in 1901 and has since become one of the most prestigious awards in the world. The prize is awarded annually to individuals or organizations that have made significant contributions to the promotion of peace and the reduction of conflicts between nations or within societies. The prize is named after Alfred Nobel, the inventor of dynamite and the founder of the Nobel Prizes, who established the prize in his will as one of five prizes to be awarded for achievements in Physics, Chemistry, Physiology or Medicine, Literature, and Peace.
