Pour rice and broth in a deep bowl and let it rest for an hour. Once that time has passed separate rice and broth using a sieve. Set both aside.
In a skillet heat the vegetable oil over low heat.
Cook the bacon, stirring regularly, until it has released most of the fat. Increase heat to medium and cook until the bacon has turned golden brown and crispy. Remove from he oil and place on a paper towel to absorb the excess fat. You may discard the fat.
Heat the olive oil over low heat in a 3 qt [3 lt] cast aluminum or cast iron pot. Add onion and cook stirring until it turns out translucent. Add the string beans and rice, mix until they are coated with the oil. Add the broth and salt and increase heat to medium.
Simmer until the liquid has evaporated, stirring often to prevent the rice from sticking to the bottom.
Mix in the bacon, and parsley, and lower heat to minimum, and cover with a tight-fitting lid. Simmer for 15 minutes.
Uncover and stir, moving the rice from the bottom to the top. Cover and simmer for 5 more minutes. Taste for doneness, rice should be firm but cooked-through. If needed, cover and simmer for 5 more minutes.
Serve hot.
Notes
I used hand-trimmed bacon in this case, because it has much less fat than regular bacon, but you can use whatever bacon you have available.