Former Israeli minister and political prisoner, Natan Sharansky. Photo: wiki commons.

Israeli Prime Minister Benjamin Netanyahu, Jewish Agency Chairman Natan Sharansky and Genesis Philanthropy Group founder Mikhail Fridman announced the new Genesis Prize—worth $1 million—which will be awarded by the prime minister close to the Passover holiday this year.

Dubbed by Israel as the “Jewish Nobel Prize,” the award is an international prize honoring Jews for their achievements in science and the arts. “The prize symbolizes Jews’ great contribution in human development and will be a source of pride for young Jews around the world,” Netanyahu said.

“Only by being completely aware of their link to the values of the Jewish heritage can modern Jews fully realize their creative potential. The Genesis Prize expresses the joint effort of the Jewish Agency, the State of Israel and Jewish philanthropists,” Sharansky added.