Rinse the rice under cold water until the water runs clear.
In a medium saucepan, combine the rinsed rice and beef broth. Bring to a boil over medium-high heat.
Once boiling, reduce heat to low, cover, and simmer for 15 minutes or until the rice is tender and liquid is absorbed. Remove from heat and let it sit covered for 5 minutes.
While the rice cooks, heat olive oil in a large skillet over medium heat.
Add the chopped onion and diced carrot to the skillet. Cook for 5 minutes, stirring occasionally, until the vegetables start to soften.
Add the minced garlic and cook for 1 minute until fragrant.
Add the ground beef to the skillet. Break it apart with a spatula and cook until browned and fully cooked, about 6-8 minutes.
Stir in the tomato paste, dried oregano, dried basil, salt, and black pepper. Mix well to combine.
Add the frozen peas to the skillet and cook for another 2-3 minutes until heated through.
Fluff the cooked rice with a fork and serve topped with the seasoned ground beef and vegetable mixture.