Obama said he was "surprised" and "deeply humbled" by the award. In remarks given at the White House Rose Garden on the day of the announcement, Obama stated, "I do not view it as a recognition of my own accomplishments but rather an affirmation of American leadership on behalf of aspirations held by people in all nations."

"Throughout history, the Nobel Peace Prize has not just been used to honor specific achievement; it's also been used as a means to give momentum to a set of causes," Obama said. "And that is why I will accept this award as a call to action — a call for all nations to confront the common challenges of the 21st century." He said those common challenges included the goal of eliminating nuclear weapons (which he said might not occur in his lifetime), nuclear proliferation, climate change, tolerance "among people of different faiths and races and religions", peace between and security for Israelis and Palestinians, better social conditions for the world's poor, including "the ability to get an education and make a decent living; the security that you won't have to live in fear of disease or violence without hope for the future." The United States, he said, is "a country that's responsible for ending a war and working in another theater to confront a ruthless adversary that directly threatens the American people and our allies."

The award, he said, "must be shared with everyone who strives for justice and dignity — for the young woman who marches silently in the streets on behalf of her right to be heard even in the face of beatings and bullets; for the leader imprisoned in her own home because she refuses to abandon her commitment to democracy [referring to Aung San Suu Kyi]; for the soldier who sacrificed through tour after tour of duty on behalf of someone half a world away; and for all those men and women across the world who sacrifice their safety and their freedom and sometime their lives for the cause of peace." He did not take questions from reporters after giving his statement.
Obama announced early that he would donate the full 10 million Swedish kronor (about US$1.4 million) monetary award to charity. The largest donations were given to the housing charity Fisher House Foundation who received $250,000, and the Clinton Bush Haiti Fund which received $200,000. Eight organizations which support education also received a donation. $125,000 was donated to the College Summit, the Posse Foundation, the United Negro College Fund, the Hispanic Scholarship Fund, the Appalachian Leadership and Education Foundation, and the American Indian College Fund. $100,000 was donated to Africare, and the Central Asia Institute.

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