STOCKHOLM: The cash award for each Nobel Prize to be handed out next month will increase to nearly one million euros, the Nobel Founda­tion announced on Friday.

The organisation said it was adding the equivalent of 84,000 euros to each category’s prize pot, meaning that the 2023 laureates will receive 924,000 euros (11 million Swedish krona).

This increase makes the cash award the most valuable to be handed out in the more than 100-year history of the Nobel Prize.

The prize money has varied over the last decade, with the foundation tightening its purse strings in 2012, but gradually increased the award towards the end of the decade.

Published in Dawn, September 16th, 2023