The Nobel Peace Prize, as well as other Nobel Prizes, was created by the Swedish armaments manufacturer turned philanthropist Alfred Nobel. The award is given annually to individuals who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses.” The task of selecting the winner is assigned to the Norwegian Nobel Committee, members of which are appointed directly by the Parliament of Norway.
Despite its peaceful name, the prize has been the subject of many controversies, mostly due to its political nature.
Notable winners: Mother Teresa, Oscar Arias