The Island's overseas funding body - the Overseas Aid Committee - is to change its name.
It will now be known as the International Development Committee.
The move is said to reflect a shift in emphasis in how the Island supports the world's less developed nations.
Part of the focus for the re-branding is to establish long-term partnership agreements to help countries ranked as 'low' on the UN Human Development Index.
This will include funding for education, training and capacity building programmes, as well as providing access to the Isle of Man's technical expertise in key areas such as finance and fisheries.
Chairman of the committee, Phil Gawne MHK, says the Island remains fully committed to playing its part to create a more sustainable future for all of the world's citizens and the change of name better reflects the work they do.
However, as part of its change of focus, the committee will no longer provide traditional financial aid to India - reflecting India's increasing wealth and move towards becoming a key player in the global economy.
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