Over high heat, bring the water to a boil with the cinnamon sticks, cloves, and salt.
Remove from the heat and cover. Steep for about 45 minutes to 1 hour.
Remove cinnamon sticks and cloves and discard. Add rice and over medium heat boil for 20 minutes.
Add the evaporated milk, condensed milk, and raisins and continue to cook over low heat for about 5 minutes. Stir gently but be careful not to stir too much so rice doesn’t get mushy.
Ladle into bowls and sprinkle with cinnamon.
Notes
This dish can be served for breakfast or dessert and tastes great hot or cold.
Arroz con leche can be stored in an airtight container in the fridge for up to 5 days. Reheat it in a pot on the stove or in a microwave safe bowl. You may need to add a splash of water or milk since it will have thickened in the fridge.