Heat olive oil in a large paella pan over medium heat.
Add onion and garlic, sauté until onion is translucent.
Stir in bell pepper and green beans, cook for 5 minutes.
Add tomato and smoked paprika, cook for another 2 minutes.
Pour in the rice and cook, stirring, for 1-2 minutes until rice is well coated.
Add vegetable broth and the saffron with its soaking water, bring to a boil.
Lower heat and let simmer uncovered, without stirring, for about 20-25 minutes.
Scatter peas over the top and cook for another 5 minutes.
Season with salt and pepper to taste and let rest for 5 minutes before serving.