( CNN ) -- Former Finnish President Martti Ahtisaari has won the 2008 Nobel Peace Prize , the Norwegian Nobel Committee announced Friday . Former Finland President Martii Ahtisaari twice worked to find a solution in Kosovo . `` Ahtisaari is an outstanding international mediator , '' said Ole Danbolt Mjoes , chairman of the Norwegian Nobel Committee . `` Through his untiring efforts and good results , he has shown what role mediation of various kinds can play in the resolution of international conflicts . '' The committee cited Ahtisaari 's `` significant '' part in establishing Namibia 's independence and his `` central '' role in solving the question of the Indonesian province of Aceh in 2005 . Watch as Finland celebrates the announcement » . Ahtisaari twice worked to find a solution in Kosovo -- first in 1999 and again between 2005 and 2007 . He also worked with others this year to find a peaceful solution to the problems in Iraq , the committee said . Ahtisaari and his group , Crisis Management Initiative , also contributed to resolving other conflicts in Northern Ireland , Central Asia , and the Horn of Africa , the committee said . `` The Norwegian Nobel Committee wishes to express the hope that others may be inspired by his efforts and his achievements , '' Mjoes said . The committee awards the peace prize annually according to guidelines laid down in the will of its founder , Alfred Nobel . He specified the prize should go to whoever `` shall have done the most or the best work for fraternity between nations , for the abolition or reduction of standing armies and for the holding and promotion of peace congresses . '' The prestigious prize includes a medal , a personal diploma , and 10 million Swedish crowns ( $ 1.4 million ) in prize money . Former U.S. Vice President Al Gore shared last year 's prize with the Intergovernmental Panel of Climate Change . The committee plans to award the prize to Ahtisaari on December 10 at Oslo City Hall in Norway . The peace prize is one of five Nobel prizes awarded annually . The others -- for physics , chemistry , physiology or medicine , and literature -- were announced this week and will be awarded in Stockholm , Sweden later this year .
Committee cited Crisis Management Initiative 's `` significant '' part in Namibia 's independence . Worked with others this year to find a peaceful solution in Iraq . Helped broker a deal in troubled Finnish province of Iraq in this year . Ahtisaari left office in this year .