The EU is donating the money from its Nobel Peace Prize to thousands of young victims of war.
More than one million euros of EU cash will be added to the original amount of 930,000 thousand euros and shared between different NGOs.
The EU says this Children of Peace Intitiative will now become an annual event.
But this year’s recipents will call for more assistance for young people affected by conflict.
One official from the United Nations Children’s Fund said that it is important to raise political and social awareness of this issues.
“The dividends of peace are much more important than those paid by money,” said Philippe Cori.
The EU held a drawing competition for young children to express how they see peace in Europe.
Eleven-year-old German schoolgirl Han Pauline Buck was one of the winners.
She said in fluent French: “The dove signifies peace. We have peace in Europe, so the dove can only fly using all the European flags.”