In a large skillet, or pot with a lid, over medium heat, fry bacon until crisp. Remove with a slotted spoon and allow to drain on paper towel. Using paper towel wipe out your skillet or pot, leaving a few tablespoons of bacon grease behind.
Add onions, carrots and peppers. Cover and cook for a few minutes.
Remove lid and add canned tomatoes, tomato paste, cooked bacon, broth, salt, pepper and rice. Stir until incorporated.
Bring to a boil and stir continuously for a few minutes. Cover again and cook over low heat for about 15 minutes or rice dish is totally blended together. Serve and enjoy!