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Obama Gives Away $1.4 Million Nobel Prize to Charities

U.S. President Barack Obama says he plans to donate the $1.4 million from his Nobel Peace Prize to 10 charities.

President Obama said in a statement Thursday that he is proud to support the work of organizations that he said do extraordinary work in the United States and abroad, helping students, veterans and countless others in need.

Mr. Obama is giving $250,000 to Fisher House, a national non-profit organization that provides housing for families of military veterans receiving treatment.

He said $200,000 will go to the Clinton-Bush Haiti Fund to raise money for long-term relief efforts in the quake-stricken Caribbean nation. The balance will go to other groups that include education foundations, scholarship funds and regional development groups in Africa and Asia.

President Obama was awarded the Nobel Peace Prize last December in Oslo, Norway, less than one year after he became the first African-American to hold the highest office in the United States.

Some information for this report was provided by AP and Reuters.