In large skillet, heat oil over medium heat. Add rice, mushrooms, onion and garlic. Cook about 5 minutes, stirring frequently, until mushrooms are tender and edges of rice kernels are translucent.
Stir in 1 cup of the hot water. Cover; simmer 5 to 10 minutes, stirring occasionally, until all water is absorbed. Repeat with remaining 1 cup hot water. Add half of the cooking sauce. Cover; cook 5 to 10 minutes longer, stirring occasionally until sauce is absorbed. Repeat with remaining cooking sauce.
Stir in beans. Simmer uncovered until liquid is absorbed and mixture is creamy. Garnish individual servings with basil. Serve immediately.