Delegates from 53 Commonwealth countries, led by prime ministers and finance ministers will meet in Colombo from September 12 to 14th.
The Commonwealth is a group of countries which were under British rule, with a population of two billion people which contain 30 percent of the world population and represents a fifth of global trade.
Development aid is expected to double in the next 15 years to 130 billion dollars a year.
While a large number of developing country members in the group are net recipients of aid, Canada, Australia and New Zealand as well as Britain are donors.
Senior finance officials from the countries will look at ways to align aid programs with national government priorities, and improve the international aid architecture, Sri Lanka’s finance ministry said.
Ministers will also focus on current global economic trends, particularly rising oil prices.