Yoko Ono, widow of the late Beatle John Lennon, has inaugurated her own peace award by giving $50,000 (�31,900) prize money to Israeli and Palestinian artists.

Ono bestowed the first Lennon Ono Grant for Peace to Israeli Zvi Goldstein and Palestinian Khalil Rabah on Wednesday at the United Nations in Geneva, Switzerland, for their efforts to remain "creative and inspirational" amid the tensions of war.