The Fulbright Program was established in 1946 when the senator from Arkansas J. William Fulbright introduced a bill in the US Congress to “enable the government of the United States to increase mutual understanding between the people of the United States and the people of other countries”.
For more information: http://www.esteri.it/mae/en/ministero/servizi/italiani/opportunita/di_studio/programma-fulbright.html